Bitcoin Surges Past $40K on Rate Cut Hopes and Expected Bitcoin ETF Approval
• Bitcoin breaks $40,000 for the first time in 2022 as momentum builds around U.S. interest rate cuts and imminent bitcoin ETF approval • 50% bitcoin rally since October marks shift away from 2022 bear market; November institutional buying signals new interest • Ethereum also hits 1.5-year high but both remain well below 2021 peaks • Risk assets like gold rallying on expected Fed rate cuts • Approval of bitcoin spot ETF could usher in new capital to crypto markets